Taking a swipe at credit card companies

DAYTON, Ohio (WDTN) - Many people will see changes to their credit card bills starting today.

The new rules are part of the Credit Card Accountability and Disclosure Act.

Card companies now must let you know 45 days before they change your rates or fees.

Also your bill will now include information on how long it will take to pay off your balance if you only make the minimum payment and how much you'll have to pay per cycle to get rid of the balance in three years.

In addition over-the-limit fees are now limited to one per cycle and that's only if you decide to opt-in to allowing the company to accept a charge that puts you over your credit limit.

In response to the changes and the economy many card companies are raising rates and fees.

Experts say you should pay close attention to anything your card company sends you. You can now cancel your card if the rates or fees are changed.

For a complete list of the changes check out our Web Links page under the On-Air tab.